World Bank Group (WBG) Executive Directors (EDs), bKash CEO Kamal Quadir and Newage Group Vice-Chairman Asif Ibrahim along with other high officials pose for photo during a visit at the Newage Group's Ashulia RMG factory in the capital.
World Bank Group (WBG) Executive Directors (EDs) have expressed their satisfaction over the ongoing process of wage digitization in apparel sector of Bangladesh and its impact on women empowerment. The WBG Executive Directors on Monday visited the Newage Group's Ashulia RMG factory to observe how the bKash payroll digitization is positively impacting RMG workers' life as well as increasing their productivity.
The Executive Directors explored existing facilities for workers, bKash awareness session in RMG factories on secure utilization of mobile wallet and also interacted with the workers. There was an open dialogue where the EDs exchanged their views with the high officials of bKash and Newage Group.
The objectives of Executives Directors' visit were to learn about the impact of WBG activities in Bangladesh, understand the challenges of a lower middle-income country that has maintained solid economic growth over the years and exchange opinions with authorities, beneficiaries, and other stakeholders on partnerships with the WBG. However, both bKash and Newage Group are in partnership with IFC which is a member of the World Bank Group.
bKash CEO Kamal Quadir threw light on the overall payment system in Bangladesh and explained how wage digitization is taking place by bKash. He said, "There is a gender gap in access to financial services in Bangladesh and services like bKash are making an impact in narrowing such gap."
WBG Executive Director Patrizio Pagano said, "We have seen massive changes in the RMG sector of Bangladesh. Previously, factories used to pay through cash or a bank which was troublesome and time consuming. Because of the largest distribution network of bKash, Bangladeshi RMG factories are becoming more dynamic with its wage digitization solution."
Newage Group Vice-Chairman Asif Ibrahim talked about the RMG industry in Bangladesh and emphasized on wage digitization as it decreases administration cost; attracts international buyers and improves production. He thanked IFC and bKash for the consistent support in this regard.
Currently, 350,000 garments workers of 280 RMG factories are getting their salary through bKash.
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